Masi Niccolo De Sells 9,280 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) CEO Masi Niccolo De sold 9,280 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $42.23, for a total value of $391,894.40. Following the completion of the transaction, the chief executive officer now owns 711,987 shares of the company’s stock, valued at approximately $30,067,211.01. This represents a 1.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

IonQ Trading Up 0.1%

Shares of NYSE:IONQ opened at $39.79 on Thursday. The stock’s 50-day moving average price is $32.54 and its two-hundred day moving average price is $33.27. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -49.13 and a beta of 2.59.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same period last year, the company earned ($0.19) EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on IonQ from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Benchmark lifted their price objective on IonQ from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson dropped their price objective on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of IonQ in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Hedge Funds Weigh In On IonQ

Several hedge funds and other institutional investors have recently modified their holdings of IONQ. Spire Wealth Management lifted its stake in shares of IonQ by 406.3% in the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after purchasing an additional 772 shares in the last quarter. Choreo LLC acquired a new position in shares of IonQ in the 4th quarter valued at about $462,000. Strategic Financial Concepts LLC acquired a new position in shares of IonQ in the 4th quarter valued at about $1,745,000. Golden State Wealth Management LLC acquired a new position in shares of IonQ in the 4th quarter valued at about $34,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of IonQ in the 4th quarter valued at about $549,000. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.